Business briefs.COLUMN: Business briefs
Telegram & Gazette
Gainer: IPG Photonics IPG Photonics is the leading developer and manufacturer of high-performance fiber lasers and amplifiers. It was founded in 1990 and has currently produced more than 20,000 laser systems. IPG is a global company with manufacturing facilities in the U.S. Corp. $13.62 +$.74
(volume of 718,340 shares)
Decliner: American Superconductor American Superconductor is a technology company based in Westborough, Massachusetts specializing in the design and manufacture of superconducting wires and power converters. It is listed on Nasdaq under the symbol AMSC. Corp. $12.83 -$1.42
(volume of 955,220 shares)
MARLBORO Marlboro or Marlborough (märl`bərō), city (1990 pop. 31,813), Middlesex co., E Mass.; settled on the site of a Native American village 1657, inc. as a city 1890. - Evergreen Solar Evergreen Solar, Inc., founded in 1994, develops, manufactures and markets solar power products enabled by its String Ribbon technology that provide environmentally clean electric power throughout the world. Inc., a maker of solar power products, failed to win an injunction Wednesday barring Barclays Plc Barclays PLC is a global financial services provider operating in Europe, the United States, the Middle East, Latin America, Australia, Asia and Africa. It is a holding company that is listed in London and New York. It operates through its subsidiary Barclays Bank PLC. from selling shares of its stock it received when it bought assets from bankrupt Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Holdings Inc.
U.S. Bankruptcy Judge James Peck There are several people named James Peck:
Evergreen sued last month seeking the return of 12.2 million shares it said Lehman improperly transferred to Barclays in the $1.54 billion sale of Lehman's North American North American
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Evergreen had loaned the shares to Lehman as part of a $325 million convertible-note transaction in July and said Lehman never owned the stock. (Bloomberg News)
IPG IPG Implantable pulse generator, see there gains in 3Q
OXFORD - IPG Photonics Corp., a maker of high-power fiber lasers and amplifiers, reported that revenues for the third quarter increased by 29 percent to $62 million.
Net income increased by 27 percent to $10.9 million, or 23 cents per diluted share, compared with $8.6 million, or 19 cents per diluted share, in the third quarter of 2007.
Revenue growth for the quarter was driven by sales of the company's fiber lasers used for materials processing applications, which increased by 47 percent from the third quarter of 2007 to $51 million, as well as strong sales to North American, European and Asian markets, the company said in a statement.
Open house today
WORCESTER - The Alumni Club of Worcester will hold two open-house sessions today at 55 Pearl St. in the historic Bull Mansion.
The club will feature private dining rooms, offering breakfast, lunch and dinner, as well as space for business meetings and private events.
The open house sessions will be from 7:30 to 10 a.m., and 11 a.m. to 2 p.m.
For more information, call Kim Stone at (508) 791-0007 or email@example.com.
The Alumni Club of Worcester also has a Web site at www.acworcester.org.
Starrett rises in 1Q
ATHOL - L.S. Starrett Co., a maker of tools and measuring technologies, posted $2.6 million in earnings, or 40 cents per diluted share, on sales of $68 million during the first fiscal quarter ended in September.
The results were up from $2.3 million in earnings, or 35 cents per diluted share, on sales of $59.5 million at the same time last year, Starrett reported in a news release.
The company said it posted strong sales and earnings growth from international markets, and that the domestic market held up well in the face of the nation's banking crisis and stock-market slide.